Randgold Resources (GOLD) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Randgold Resources (NASDAQ:GOLD) from a hold rating to a sell rating in a research report report published on Monday morning.

According to Zacks, “Randgold Resources is an international gold mining and exploration business. It has to date discovered the 7 Moz Morila deposit in southern Mali, the plus 5 Moz Yalea deposit in western Mali and the 3 Moz Tongon deposit in the Côte d’Ivoire. The Company successfully developed the Morila deposit into one of the world’s largest and highest-margin gold mines. In addition, Randgold Resources has a portfolio of prospective exploration projects across Africa in Mali, Côte d’Ivoire, Senegal, Burkina Faso, Ghana and Tanzania. “

A number of other research firms also recently commented on GOLD. BidaskClub downgraded shares of Randgold Resources from a hold rating to a sell rating in a research note on Wednesday, December 6th. JPMorgan Chase & Co. reduced their price objective on shares of Randgold Resources from $103.00 to $101.00 and set an overweight rating on the stock in a research note on Monday. HC Wainwright reiterated a buy rating on shares of Randgold Resources in a research note on Wednesday, January 17th. Investec upgraded shares of Randgold Resources from a hold rating to a buy rating in a research note on Friday, November 3rd. Finally, UBS Group downgraded shares of Randgold Resources from a buy rating to a neutral rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $75.70.

Randgold Resources (GOLD) opened at $90.11 on Monday. The firm has a market cap of $8,006.19, a price-to-earnings ratio of 30.97 and a beta of -0.06. Randgold Resources has a 52 week low of $81.35 and a 52 week high of $108.29.

Randgold Resources (NASDAQ:GOLD) last posted its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.79 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.05). Randgold Resources had a net margin of 21.72% and a return on equity of 7.13%. The company had revenue of $328.62 million for the quarter. analysts forecast that Randgold Resources will post 3.77 EPS for the current fiscal year.

The firm also recently announced a None dividend, which will be paid on Friday, May 18th. Shareholders of record on Friday, March 23rd will be issued a dividend of $1.98 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a dividend yield of 0.0233518103549947%. Randgold Resources’s dividend payout ratio (DPR) is 33.68%.

Several large investors have recently modified their holdings of GOLD. Howe & Rusling Inc. acquired a new stake in shares of Randgold Resources during the third quarter worth $137,000. FNY Managed Accounts LLC acquired a new stake in shares of Randgold Resources during the third quarter worth $152,000. Advisory Services Network LLC raised its holdings in shares of Randgold Resources by 60.4% during the fourth quarter. Advisory Services Network LLC now owns 1,700 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 640 shares during the period. Advisor Group Inc. raised its holdings in shares of Randgold Resources by 9.7% during the second quarter. Advisor Group Inc. now owns 2,815 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 250 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Randgold Resources by 629.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,188 shares of the basic materials company’s stock worth $315,000 after purchasing an additional 2,751 shares during the period. 35.37% of the stock is currently owned by institutional investors.

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Randgold Resources Company Profile

Randgold Resources Limited is engaged in gold mining, exploration and related activities. The Company’s activities are focused on West and Central Africa. The Company operates through the gold mining segment. The Company operates various mines, such as Morila, Loulo, Gounkoto, Tongon and Kibali. The Company is exploring in African countries, such as Mali, Senegal, Cote d’Ivoire and the Democratic Republic of Congo (DRC).

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